1 15 boints 01:59:42 eBook KORBIN COMPANY Comparative Income Statements For Years Ended December 31 Sales Cost of goods sold Gross profit Selling expenses Administrative expenses Total expenses Income before taxes Income tax expense Net income Assets Current assets Long-term investments Plant assets, net Total assets Liabilities and Equity Current liabilities 2021 $ 425,106 255,914 169, 192 60,365 38,260 98,625 70,567 13, 125 $ 57,442 KORBIN COMPANY Comparative Balance Sheets December 31 Common stock Other paid-in capital Retained earnings Total liabilities and equity 2020 $ 325,666 206,147 119,519 44,942 28,659 2021 73,601 45,918 9,413 $ 36,505 $ 53,768 0 101,408 $ 155, 176 $ 22,656 70,000 8,750 53,770 $ 155,176 2020 2019 $ 226,000 144,640 81,360 29,832 18,758 48,590 32,770 6,652 $ 26,118 $ 35,987 1,200 91,717 $ 128,904 $ 19,207 70,000 8,750 30,947 $ 128,904 2019 $ 48,107 4,970 53,720 $ 106,797 $ 18,689 52,000 5,778 30,330 $ 106,797